Does a consumer lender's NMLS number have to be on a blank application if it is being given to a customer and no other information is collected or given out?
Are we allowed to include the Negative Information Disclosure language in the promissory Note form for all applicable loans? We currently provide a separate one page document with just the Negative Information Disclosure language on it for the customers to sign. I was hoping to eliminate one document by including this in the Note.
Do we need to send an Appraisal Notice on a new request if we are using an existing appraisal we already have for a separate loan?
Are we required to use the Lender Information Form?
I know that providing a builder a discounted rate on their personal loan in exchange for the builder referring buyers on new construction is a RESPA violation. However, is it also a violation if the bank provides the builder a deal on the commercial loan that was provided to construct the new homes? That loan is a commercial deal and the discount predates the "hoped" for referrals. There is no agreement, more of a hope the builder provides referrals. It's likely a tightrope but appreciate the insight.